21st International Conference of Banking Supervisors

19–20 October 2020 | virtual

About the conference

This year's conference was planned to be held in Vancouver, hosted by the Bank of Canada and the Office of the Superintendent of Financial Institutions, in cooperation with the Basel Committee. However, due to the Covid-19 pandemic, the event was virtually. The virtual ICBS was held over a series of online events from 19-22 October 2020.

The focus was on the challenges and the future of banking supervision, with discussions on:

  • addressing the enhanced responsibilities that require supervisors to have a broader range of expertise despite various resource constraints;
  • understanding the complexities of the new world (ie technology, millennial work force, post Covid-19 environment) and the impact it has on the operating environment for supervisors; and
  • discussing what the future of banking supervision would look like.

Programme

Objective

  • Hear from banking supervisors about what it means to be an effective supervisor in 2020
  • Address the important challenges supervisors face in their day-to-day work, taking into account:
    • Enhanced responsibilities (eg governance and conduct, accountability, cross-sectoral supervision, resolution)
    • Resource constraints (eg budgetary restrictions, human resources and changing nature of expert knowledge)
    • Impact of the Covid-19 pandemic on supervisory activities and how it affects their current work
  • Main themes: on-site and off-site supervision of traditional risk categories (credit risk, market and liquidity risk), operational resilience and cyber risk, stress testing, effectiveness of supervision
Welcoming remarks by host country/Secretary General
Keynote speech 1: Pablo Hernández de Cos, Basel Committee Chair

Panel discussion 1

Moderator 

Ben Gully, Assistant Superintendent, Office of the Superintendent of Financial Institutions

Panellists

  • Charles Littrell, Inspector of Banks and Trust Companies, Central Bank of Bahamas
  • Chunhang Liu, Director General, China Banking and Insurance Regulatory Commission
  • Kuben Naidoo, Deputy Governor & CEO of the Prudential Authority, South African Reserve Bank
  • Kevin Stiroh, Executive Vice President, Federal Reserve Bank of New York

Objective

  • Three time zone panel discussions arranged and orchestrated by the Toronto Centre, in collaboration with the Basel Consultative Group of the BCBS
  • Themes are different for each panel discussion; all ICBS participants are invited to join each discussion; summaries will be presented on Day 4
  • Chaired by Bryan Stirewalt, Chief Executive, Dubai Financial Services Authority and Babak Abbaszadeh, President and CEO, Toronto Centre

Theme: How will technology shape supervision?

Supervisory tools - What is the role of people vs technology? What is the role of Suptech (eg the use of new tools such as AI/ML or alternative data sources) in supporing banking supervision?

  • Jessica Chew Cheng Lian, Deputy Governor, Bank Negara Malaysia
  • Chuchi Fonacier, Deputy Governor, Financial Supervision Sector, Bangko Sentral ng Pilipinas
  • Ong Chong Tee, Deputy Managing Director, Monetary Authority of Singapore
  • Ronadol Numnonda, Deputy Governor, Bank of Thailand

Theme: How can supervisors monitor sound lending in times of Covid-19?

The regulation supervision loop - how to supervise and regulate effectively during Covid-19?

  • Aishah N Ahmad, Deputy Governor, Financial System Stability, Central Bank of Nigeria 
  • Kuben Naidoo, Deputy Governor & CEO of the Prudential Authority, South African Reserve Bank
  • Ahmed Saeed Al Qamzi, Assistant Executive Director, Central Bank of the United Arab Emirates
  • José Manuel Campa, Chairperson, European Banking Authority
  • Lyndon Nelson, Deputy CEO & Executive Director, Prudential Regulation Authority, United Kingdom

Theme: Supervisory capacity - How can supervisors enhance supervisory capabilities?

Where will the role of supervisory judgement stand in the future?

  • Jason Cave, Special Adviser to the Chairman, Federal Deposit Insurance Corporation, United States
  • Socorro Heysen Zegarra, Superintendent, Superintendency of Banks, Insurance and Private Management of Pension Funds of Peru
  • Cindy Scotland, Managing Director, Cayman Islands Monetary Authority
  • Paulo Sérgio Neves de Souza, Deputy Governor for Supervision, Central Bank of Brazil

Objective

  • The world has become more complex - hear from experts about:
    the effort and initiatives towards making the world a better place
    the economics of a pandemic
    how millennials want to work
    the main areas of change (4th industrial revolution - digitalisation, climate risk, working from home, flexibility)
Keynote speech 2: Prithwiraj Choudhury, Associate Professor, Harvard Business School

Panel discussion 2

Moderator

Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority

Panellists

  • Matthew Blake, Head of Financial & Monetary System Initiatives, World Economic Forum
  • Azra Ghani, Professor and Chair in Infectious Disease Epidemiology, Imperial College London
  • Tokio Morita, Vice Minister for International Affairs, Financial Services Agency, Japan

Objective

  • Synthesis of three days of discussion to find out how the future of supervision might look
  • Supervision has become more complex - hear from experienced supervisors about the future of supervision
Feedback of Day 2 discussion: Bryan Stirewalt and Babak Abbaszadeh

Panel discussion 3

Moderator

Carolyn Rogers, Secretary General of the Basel Committee on Banking Supervision

Panellists

  • Wayne Byres, Chair, Australian Prudential Regulation Authority
  • Julie Dickson, former Superintendent, Office of the Superintendent of Financial Institutions, Canada
  • Sabine Lautenschlaeger, former Executive Board member, European Central Bank
  • Fernando Restoy, Chairman, Financial Stability Institute, BIS
Closing remarks by host country and BCBS Chair